The challenge was monumental and the price for failure could have cost many lives, but Joseph Bazalgette, civil engineer, rose to the occasion. In 1858, he designed and oversaw the building of a revolutionary enclosed sewer network for London. His foresight in doubling the diameter of the sewers to cope with more than the existing demand means that his system is still in use today. His efforts brought him a knighthood in 1875.

In the New Year's honours list published yesterday, Joseph's great-great-grandson, Peter Bazalgette, was also knighted. The 19th-century Bazalgette was rewarded for an engineering prowess that allowed the Victorian economy to flourish. In the 21st century, it is for creativity in new media and television – a vital part of the modern economy – that his descendant has been honoured.

Peter Bazalgette brought Big Brother to the UK and launched surely the most redundant role in society – the reality TV "star". However, his creative skill has also produced a number of globally successful formats including Ready Steady Cook and Ground Force. He and Apple designer Jonathan Ive, now Sir Jonathan, haven't saved lives, but they have established new industries and forged fresh opportunities.

For those in favour of the honours system – and plenty are not – it is possible to see why those who make a constructive and possibly unique contribution to the creative industries and to the British economy, such as Bazelgette and Ive, are singled out. Equally deserving of recognition are "ordinary" men and women who also make a positive difference to their communities.

It is far more difficult to see the reasoning behind the award of an unprecedented third of knighthoods to bankers and businessmen, including Paul Ruddock, a hedge fund manager and Tory donor who profited from the collapse of Northern Rock. Whatever the individual merits of those knighted, this over-generous allocation lacks civic sensitivity. Prominent members of both sectors have gained notoriety for their displays of unbridled personal greed and their insistence that failure should still be rewarded. As a result, we have all paid a price.